Money and Dreams: How Can Financial Planning Make the Road to Life Goals Smoother?

Money is a very debated topic. Does money solve all our problems? Can it give true happiness? Are our experiences greater than money? A financial planner in Melbourne will be able to answer all these questions.

Meanwhile, people at different paths and times of life will answer these questions differently. A young 18-year-old who is living with their parents might say experiences are worth a lot more, and budding 20-something-year-old men might say the money would help him pursue his dreams. Meanwhile, an old retired man might say he needs no money but only his grandchildren and many memories during his last days.

Regardless, money is a large part of the conversation. At this point, it is not about how much money one has, but more about how their money is planned. It is not about the starting point but the journey and the destination. In this analogy, the goal is essential because one’s money is spent based on that.

Why Melbourners Need Financial Planning

Financial planning is for everyone, for everyone who has any amount of money. It is for those who want to dream but not recklessly. And financial planners want to make sure that if the day comes when one needs to step back from their dream, they will have all the basic amenities for a sound retirement. Hence, a financial planner from Melbourne can help this vision come true. Planning is vital because once there seems to be a long-term idea planned out, there is a lot of relief mentally. Nevertheless, the goal and method are marked out clearly and loudly.

According to the Australian Securities and Investment Commissions (ASIC), Australian interest in financial planning is split multiple ways.

  • 45% look into investments such as shares.
  • 37% look into pension and retirement plans.
  • 22% look into another major section which is looking after cash flow and management.
  • 18% look into caring for their aged ones.

Regardless of the interest of Australians being so wide, the idea of financial planning for people from the former Australian capital can look similar.

The first and foremost task one does in financial planning is to talk about life goals. Life goals essentially trace out exactly how the money will play out in that life. The funds would play a more prominent role for those whose goal is to build a huge house and live among the rich, and a little lesser role for those who want to travel but later settle down in the countryside in, maybe, a farm. So, it is very important to envision the life that one dreams of even to understand how much money it would entail. Besides, the earlier one plans, the less anxious they would be about having money at the end of their time.

Large and Small Goals

It is important to divert goals from large life goals to smaller immediate goals since they will exist during the entire journey. Yes, one’s life goal might be to start school, but in the meanwhile, they still need a house to live in, food to eat, and other experiences to make. Hence, short term planning goes along with life goals. But also, one might not want to discover that their lifestyle cannot afford their larger goals quite late in life.

Financial planning steps in here to help with monitoring cash flow and making small and frequent amounts of savings for a long time so that in the end, it will truly be a treasure. Planning also gives space to maximize and optimize what money can do for the client. Focused and timely investments or savings is the secret behind planning one’s financial future.

Money as a Means

So, money is not equal to happiness or memories or life in general. But, it still is a tangible commodity. I can carve a path that leads people to their larger dreams, leading them to happiness and memories. That way, financial planning, in general, stresses all the areas people seem to have anxiety about in terms of wealth. It reiterates that money might not end, but it sure can be the means to a beautiful end.